Common use of Welfare Benefit Coverage Clause in Contracts

Welfare Benefit Coverage. Continued Welfare Benefit Coverage for Executive and his/her eligible dependents at the active employee rate for a period of (1) 3 years following the date of Executive's Covered Termination which occurs following a Change of Control or (2) 18 months following any other Covered Termination. Such entitlement shall apply only to those Welfare Benefit Coverages that the Company has in effect from time to time for active employees. If Executive's employment is terminated following a Change of Control and Executive would have become entitled to benefits under the Company's post-retirement health care or life insurance plans, as in effect immediately prior to the termination or of his employment (or, if more favorable to Executive, as in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason), had the Executive's employment terminated at any time during the period of three years following the date upon which Executive's employment was terminated, the Company shall provide such post-retirement health care or life insurance benefits to Executive and Executive's dependents commencing on the later of (i) the date on which such coverage would have first become available and (ii) the date on which benefits described in the first sentence of this paragraph 2(c) terminate. Benefits otherwise receivable by Executive pursuant to this Section

Welfare Benefit Coverage. Continued Welfare Benefit Coverage for Executive and his/her eligible dependents at the active employee rate for a period of (1) 3 years following the date of Executive's Covered Termination which occurs following a Change of Control or (2) 18 months following any other Covered Termination. Such entitlement shall apply only to those Welfare Benefit Coverages that the Company has in effect from time to time for active employees. If Executive's employment is terminated following a Change of Control and Executive would have become entitled to benefits under the Company's post-retirement postretirement health care or life insurance plans, as in effect immediately prior to the termination or of his employment (or, if more favorable to Executive, as in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason), had the Executive's employment terminated at any time during the period of three years following the date upon which Executive's employment was terminated, the Company shall provide such post-retirement health care or life insurance benefits to Executive and Executive's dependents commencing on the later of (i) the date on which such coverage would have first become available and (ii) the date on which benefits described in the first sentence of this paragraph 2(c) terminate. Benefits otherwise receivable by Executive pursuant to this SectionSection 2(c) shall be reduced to the extent Executive becomes eligible to receive benefits pursuant to a government-sponsored health insurance or health care program.